Replication data and code for

Do Campaign Contributions Buy Favorable Policies?
Evidence from the Insurance Industry

Alex Fouirnaies and Anthony Fowler

Please contact anthony.fowler@uchicago.edu with any questions.

All analyses were conducted using Stata version 16.1.

Summary of Files:
Code.do contains all code necessary to reproduce our results.

cf_index.dta contains data on the CF index (and each of its components) by state and year.
-corplims is an indicator for corporate contribution limits
-indlims is an indicator for individual contribution limits
-gpubfunds is an indicator for public funding for gubernatorial elections
-lpubfunds is an indicator for public funding for state legislative elections
-independent_ban is an indicator for a ban on independent expenditures
-cf_index is our index, which is the sum of the 5 indicators divided by 5

CampaignFinanceData.dta contains data on campaign contributions from the insurance industry by state and election cycle.
-governor is an indicator for whether there was a gubernatorial election in that state-cycle
-dollarspercapita is the total value of contributions from the insurance industry to candidates in state elections divided by population
-log dollars is the natural log of those contributions plus 1.

InsuranceOutcomeData.dta contains data on our outcomes of interest.
-premiums are the total value of property and casualty insurance premiums, coded as 2015 dollars per state resident
-assessments are the value of guaranty fund net assessment, coded as 2015 dollars per state resident
-automin is minimum requirement for auto insurance, coded as thousands of 2015 dollars
-companies indicates the number of insurance companies operating in each state and year
-commissioner is an indicator for whether the insurance commissioner previously worked for a private insurance company
-taxrate total value of premium taxes paid divided by the total value of premiums
